The Central Bank of
Nigeria, CBN, has disclosed that it will fund the research for COVID-19 vaccine
in the country.
This was made known
by the Governor of CBN, Godwin Emefiele at the unveiling of the THISDAY Dome
testing, tracing, and treatment centre on Tuesday in Abuja.
Emefiele said,
“Needless to state that if we are to wait for foreign countries to develop
their own vaccines, we will be the last in the queue to receive curative remedies
for our teeming population.”
According to
Emefiele, the framework will involve grants and long term facilities that will
be provided to “researchers, science institutions and biotechnology firms to
develop the Nigerian Vaccine.”
Emefiele further disclosed
that the apex bank recently launched an N100bn healthcare intervention fund.
“Practitioners in
the Pharmaceutical and healthcare sectors will be able to access finance at a
single-digit rate through this fund,” he explained.
He said that in a
bid to cushion the effects of Coronavirus on the country’s economy, the apex
bank has implemented several initiatives such as the provision of one trillion
naira facility for firms operating in the agriculture and manufacturing
sectors.
“We are also working
with financial institutions to enable the continuous flow of credit to viable
businesses while putting in place provisions such as moratoriums and
restructuring of existing loans under CBN intervention funds that have been
provided to businesses,” he added
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